"The European Central Bank (ECB) cuts its main interest rate to 0.25 percent from 0.50 percent on Thursday, sending the euro sharply lower. The announcement - unexpected by many - was followed by a press conference with ECB President Mario Draghi, who insisted the rate cut was in line with previous forward guidance." Continue reading →
"The Canadian Federal of Independent Businesses, which represents almost 110,000 small- and medium-sized concerns, teamed up with financial commentator Gail Vaz-Oxlade today to launch a campaign for 'Credit Free Friday.' 'Very few consumers know than $5-7-billion each year in credit card processing fees is embedded in the cost of everything they buy, and with ever-higher tiers of premium cards hitting the market, that cost is only going up,' CFIB president Dan Kelly said as he launched the campaign. 'As consumers are often unaware that the merchant loses between 2-3.5 per cent of a credit card sale, Credit Free Fridays can be a great way to support small firms.'" Continue reading →
"The BRICs system of finance is entirely Western, starting with its central banking and continuing via its banking interests that are inevitably part of the larger fabric of Anglosphere finance. If those in charge of Western finance really did not want the BRICs – including China – to create an alternative to the dollar, it likely wouldn't happen. But it is happening. The dollar has been destabilized and the BRICs and China offer alternative currencies that are supposedly seen as 'stronger.' Jim Rogers, for instance – a respected voice in commodities and a commentator we've often interviewed – believes the yuan could appreciate 500 percent against the dollar in the next few years." Continue reading →
Janice Cookston WeTexans.com Archives originally http://wetexans.com/smart-meter-opt-out-are-we-there-yet/ =================================================================== UPDATE: While both pieces of opt-out legislation failed this past legislative session, the PUC has since created a rule that allows electric customers in areas with retail competition to choose a non-standard meter as long as the customer pays for all costs associated with non-standard meter use. Charges will include a one-time fee and a recurring monthly fee. Customers who want to comment on the proposed charges (which are different for each Transmission and Distribution … Continue reading →
Standing For Liberty Tulsa November 3 This past Sunday afternoon I had the pleasure of attending the “Standing For Liberty” event in Tulsa and then that evening a fundraising dinner for Liberty candidates. The headline speaker was Oliver North the former marine and Reagan Administration official famous for the Iran-Contra ‘scandal’. First I have to […]
"Both countries still have problems. Iceland’s monetary controls are notably stifling needed investment, while Ireland is left with a large debt from bailing out its banks, and this is stalling growth. One thing is clear though — the effects of monetary policy are stark and the proclaimed benefits of Iceland’s inflationary policy were counteracted by the price inflation that ensued. Don’t let a good crisis go to waste; learn something from it. As the tale of these two countries demonstrates, inflating one’s currency may give the appearance of recovery, but the truth is somewhat less rosy." Continue reading →
"Greek protesters rally against IMF and EU inspection. Anti-austerity demonstrators jeer, heckle and throw coins at auditors from bailout troika amid fears of more public sector cuts ... Only hours before, the Greek prime minister, Antonis Samaras, had resolutely declared that Greece was not at war with the international bodies keeping the debt-stricken country afloat. But in scenes not witnessed since the beginning of Greece's economic crisis, auditors from the European Union and International Monetary Fund came face-to-face with the full force of anti-austerity anger as protesters in Athens jeered, heckled and stopped them from leaving the finance ministry." Continue reading →
"Mt. Gox evolved into a reliable marketplace for buying and selling bitcoins, now the world’s most popular digital currency. By one estimate, Karpeles has made over $8 million plus 345,000 bitcoins (at current rates: $86 million) swapping bitcoins for dollars and yen and other federal currencies. Karpeles and his company are a metaphor for the bitcoin world as a whole. Created by an anonymous computer scientist, the digital currency rose to prominence after it was embraced by software geeks across the globe. But now, as its influence continues to grow, these young, idealistic hacker types are running into the government regulators who control the existing financial system." Continue reading →
"On Sept. 24, four hours before the Justice Department was planning to hold a news conference to announce civil charges against the bank over its sale of troubled mortgage investments, Mr. Dimon personally called one of Attorney General Eric H. Holder Jr.’s top lieutenants to reopen settlement talks, people briefed on the talks said. The rare outreach from a Wall Street C.E.O. scuttled the news conference and set in motion weeks of negotiations that have culminated in a tentative $13 billion deal. An account of the negotiations pulls back a curtain on the private wrangling to illuminate how the bank and the government managed to negotiate what would be a record deal." Continue reading →
"Today, we'll be talking about the Department of Justice's proposed settlement with JP Morgan Chase for $13 Billion. This settlement is about making a number of open investigations and lawsuits go away. Now the good news is the settlement does NOT immunize JPMorgan from future criminal charges, but you should know that Jamie Dimon, the CEO of JPMorgan Chase has been getting really cozy with US Attorney General Eric Holder. He's been hacing personal phone calls with Holder and staff at the Justice Department since as early as July, negotiating his own settlement, as the NYTimes reported." Continue reading →